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French shipbuilder Naval Group posts higher profits, upbeat on 2018

Paris - The firm reported a surge in 2017 profits and expressed confidence over its outlook for 2018

Paris - French shipbuilding and defence company Naval Group, in which Thales owns a 35 percent stake, reported a surge in 2017 profits and expressed confidence over its outlook for 2018. Naval Group, formerly known as DCNS, designs and produces France’s submarines and surface ships. The company said on Thursday that its 2017 earnings before interest, tax and amortisation (EBITA) had risen 68.5 percent from a year ago to 172.7 million euros ($211 million). It added it expected further profit growth in 2018.

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